CARITAS FUND PROVIDER ELITE

CARITAS FUND PROVIDER ELITE is a systematic fund accumulation program designed to help you save for the future while you are still at you most productive years. Whether you have just started your first job or you are at the peak of your career, Caritas Fund Provider Elite is the plan especially designed to fit your financial planning requirements.

Imagine your retirement...

     a time to sit back and relax
     a time for travel and leisure
     a time of comfort and enjoyment
     a time to enjoy financial freedom
     the time to savof the GOOD LIFE!

Pension Benefits

1. Pension Benefit [PB]

Upon the prescribed maturity date, a fixed amount predetermined by the number of units subscribed will become due as the Pension Benefit. The amount may be availed thru a variety of SETTLEMENT OPTIONS.

Settlement Options
a. LUMP SUM PAYMENT. You will receive the Pension Benefit in one-time payment as full and final settlement of the Caritas Fund Provider Elite.

b. PERIODIC PAYMENT OF INTEREST. You may choose to leave you Pension Benefit and receive its interest earnings on a regular basis, either annual, semi-annual, quarterly,
or monthly basis. In the event of your demise, the retained Pension Benefit will finally be paid to your surviving beneficiary. At any time during the period of availment, you may opt to receive the Pension Benefit which will be the final settlement of the Caritas Fund Provider Elite.

c. PARTIAL WITHDRAWAL. You may withdraw any portion of the Pension benefit and subject the remaining amount to the PERIODIC PAYMENT OF INTEREST.

d. Other settlement which you may wish to arrange with Caritas Financial Plans.


2. Yearly Cash Benefit [YCB]

With Caritas Fund Provider Elite, you have a choice from several programs that will help you sufficiently provide for the future financial independence that you envision for youself and your loved ones, EVEN PRIOR TO PLAN MATURITY!

PLAN A will pay you an amount equivalent to 10% of the subscribed Pension Benefit each year for 10 years prior to the prescribed maturity date.

PLAN B will pay you an amount equivalent to 20% of the subscribed Pension Benefit each year for 10 years prior to the prescribed maturity date.

PLAN C will pay you an amount equivalent to 25% of the subscribed Pension Benefit each year for 5 years prior to the prescribed maturity date.

PLAN D will pay you an amount equivalent to 50% of the subscribed Pension Benefit each year for 5 years prior to the prescribed maturity date.

Insurance Benefits

If you are 18 to 60 years of age, and in good health, you will be covered with the following insurance:

1. Term Life Insurance

Pays your beneficiary an amount equivalent to the Pension Benefit of your Caritas Fund Provider Elite should you pass away during the maturity period of the plan priot to reaching age 70.

2. Accidental Death Insurance

Pays your beneficiary an additional amount, also equivalent to the Pension Benefit of your Caritas Fund Provider Elite, should you pass away due to injuries resulting from an accident during the maturity period of the plan but prior to reaching age 65.

3. Credit Life Insurance

Pays for the balance of the Contract Price should you pass away during the paying period but prior to reaching age 70, thereby rendering the plan fully paid and your beneficiary will enjoy both the Yearly Cash and Pension Benefits of the Caritas Fund Provider Elite at the prescribed period.

4. Total Disability Benefit

Waives all installments that may still become due should you become permanently and totally disabled (for an uninterrupted period of at least 6 months) during the paying period but prior to reaching age 60, rendering the plan fully paid and you will enjoy both the Yearly Cash and Pension Benefits of the Caritas Fund Provider Elite at the prescribed period.


Other Features

Affordability

A wide range of prices and programs to choose from. Depending on the maturity period, the number of plan units, and the amount of early cash benefit, your plan will be priced according to your budget and desires.

Plan Termination Values

While the plan is in force, the plan may be surrendered in exchange of its terination value in accordance with the Schedule of Pre-Maturity Benefit.

Trust Fund

1. From the planholder's contributions, Caritas Financial Plans, Inc. maintains a Trust Fund for the exclusive purpose of discharging its obligation to its planholders as provided for in the pre-need plans subscribed. The Trust Fund is administered by a Trustee in accordance with the provisions of the Pre-Need Code of the Philippines.

2. To monitor the performance of the Trust Fund and the solvency of Caritas Financial Plans, Inc., actuarial valuation reports and audited financial statements are regularly submitted to the Insurance Commission.

No Medical Examination Required

Insurance coverage shall be on a "no medical examination" basis up to a maximum of P1,500,000.

Incontestability

Death or disability claims can no longer be constested after the plan has remained in force for an uninterrupted period of one (1) year from its effective date or date of last reinstatement.

Grace Period

The plan shall remain in force even after failure to settle any installment upon its due date within 60 days from such date of default, only after which the plan shall be rendered lapsed and without force and effect.

Reinstatement

A lapsed plan may only be reinstated within two (2) years from date of lapsation either by updating or redating.

Non-forfeiture

If a lapsed plan remains unreinstated after the prescribed reinstatement period, the planholder will still be entitled to a cash benefit upon maturity date anmounting to the total plan credits plus interest of 2%p.a. computed from last unpaid due date until maturity.

Transferability

While the plan is in force, you may transfer all your rights and privileges under the Agreement to another person as the new planholder.